On the afternoon of November 28th, 2023, at PVI Tower, the fourth meeting of PVI’s Board of Directors of 2023 took place with the participation of members of Board of Directors, Board of Management, Board of Supervisors and Representatives of Subsidiaries and affiliated Centers and relevant functional divisions.

At the meeting, Board of Directors highly appreciated the results and achievements that the entire PVI system achieved in the first 9 months of 2023, exceeding the business plan targets for the first 9 months of 2023 according to the plan set by the General Meeting of Shareholders /assigned by Board of Directors. Specifically, consolidated 9M2023, according to the audited consolidated financial statements, PVI exceeded the plan for the targets of Total Revenue and Consolidated Profit before Tax assigned by the Board of Directors/General Meeting of Shareholders at the rates of 117% and 148%, respectively. All indicators increased over the same period. The main growth driver comes from financial investment activities of the entire system.

As for the parent company, at the end of the first 9 months of the year, the parent company exceeded the plan for both revenue and pre-tax profit targets at a rate of 106% and 130% of the plan, respectively. Total revenue reached 643 billion VND; profit before tax reached 422 billion VND.

Insurance business is PVI's core activity and still ensures high growth: Total revenue reached 10,705 billion VND, completing 117.9% of the 9M plan, Profit before tax reached 534 billion VND, completing 128% of the 9T plan because PVI Insurance always focuses on improving services, enhancing management and product distribution methods although the insurance market in 2023 continues to record an increase in compensation costs and domestic price competition and international fees.

Regarding reinsurance activities, according to the 9T2023 audited financial statements, HanoiRe completed 110% of the plan for total revenue and 115% of the plan for Profit before Tax.

Consolidated financial investment revenue reached 996 billion VND, completing 148% of the 9T plan and growing 49% over the same period last year and reaching 102% of the whole year 2023 plan because the whole system benefits from taking advantage of timely use when deposit interest rates are high from the first months of the year. The highest offered 12-month deposit interest rate of the banks on the list as of September 30, 2023 is 6.5%, equivalent to the highest offered interest rate in the same period of only 7.65%.

PVI's brand continues to be affirmed by continuously being honored at prestigious awards: On September 11, 2023, according to Vietnam Report's announcement, PVI Insurance and PVI were both honored to be honored in the Top 50 Excellent profitable enterprise in Vietnam. On September 16, 2023, PVI continued to be honored in the Top 50 most effective business companies in Vietnam voted by Nhip Cau Dau Tu Magazine in collaboration with Thien Viet Securities Company. In November 2023, it was honored to be voted in the Top 10 HNX listed companies with the best corporate governance in 2022-2023 and evaluated as "Enterprise qualified Vietnamese business culture standards" in 2023, with this award, PVI has met the standards of the Vietnamese Business Culture Criteria approved by the National Council.

Regarding governance, PVI will implement and improve management, compliance monitoring, transparent governance, and strengthen systemic risk management. At the same time, improve professionalism in insurance/reinsurance business, investment and fund management based on the principles of effective business, capital preservation and sustainable growth, continuing to maintain the leading position in Vietnam non-life insurance market.

At the meeting, Board of Directors discussed and provided directions and orientations to promote the completion of targets and plans for 2023 and develop a strategy to implement the plan for the 2024-2028 period. In addition, the Committees under Board of Directors also report quarterly work updates, review and amend Regulations on Salary Payment, Personnel Management Regulations... Active activities of the Committees under the Board of Directors, contributing to strengthening the role and operational efficiency in PVI's corporate governance.